the facts about the debt; no more empty promises a fact – based budget

THE FACTS ABOUT THE DEBT;NO MORE EMPTY PROMISES

A FACT – BASED BUDGET

TOTAL SPENDING IN FY 2010 = $3.5 TRILLION(OUTLAYS IN BILLIONS OF DOLLARS)

1970 1978 1986 1994 2002 2010 2018 2026 2034 2042 2050 2058 2066 20740%

5%

10%

15%

20%

25%

Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Social Security Medicaid & Other

HealthMedicaid & Other






































Health

Medicaid & Other Health








































































Medicare

Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare Medicare

PROJECTED TAX REVENUE

SOURCE: CBO

WHAT DRIVES OUR DEBT?(GOVERNMENT SPENDING AS SHARE OF ECONOMY)

WHO OWNS OUR DEBT?DEBT HELD BY PUBLIC, 1970-2010

SOURCE: U.S. DEPARTMENT OF TREASURY

THE PATH TO PROSPERITY

Efficient, Effective and Responsible Government

Strengthening the Social Safety Net

Fulfilling the Mission of Health and Retirement Security for All Americans

Pro-Growth Tax Reform

THE CHOICE ON MEDICAREREPUBLICAN BUDGET VS OBAMA FRAMEWORK

CURRENT SENIORS

FUTURE SENIORS

No Changes

Imposes nearly $10,000 cut per senior

Uses rationing board for benefit and provider cuts

No plan to save MedicareAllows Medicare to go bankrupt in 2020

Personalized Medicare; like Members of CongressWealthy get less, sick & low income get more supportGuaranteed Medicare

plan

No Disruptions

Preserve and Protect

PATH TO PROSPERITY PRESIDENT’S PLAN

ADDITIONAL SLIDES

1947 1955 1963 1971 1979 1987 1995 2003 2011 2019 2027 2035 2043 2051 2059 2067 2075 208310

20

30

40

50

60

70

80

Spending Tax Revenue

WE ARE IN A SPENDING-DRIVEN DEBT CRISISHISTORIC/PROJECTED SPENDING & REVENUE AS A PERCENTAGE OF THE ECONOMY

SOURCE: OFFICE OF MANAGEMENT AND BUDGET HISTORIC TABLES, CONGRESSIONAL BUDGET OFFICE; PROJECTIONS BASED ON THE CBO’S ALTERNATIVE FISCAL SCENARIO.

TAXPAYERS SUPPORTING EACH SOCIAL SECURITY RECIPIENT

1950

1960

2000

2009

2040

16.5

8.6

3.4

3.0

2.1

SOURCE: SOCIAL SECURITY ADMINISTRATION, THE 2010 ANNUAL REPOT OF THE BOARD OF TRUSTEES; CENTERS FOR DISEASE

CONTROL, U.S. LIFE TABLES

RECIPIENT WORKERS

LIFE EXPECTANCY

1950 68

1960 70

2000 76

2009 78

the facts about the debt; no more empty promises a fact – based budget

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